Links 17 October 2016

Global Macro / Markets / Investing:







  1. “Subject: Be very very careful

    In the last 48 hours a) Hillary and her campaign have begun to question Bernie’s integrity and b) older feminists are beginning a civil war against younger women with idiot comments such as younger women support Bernie to get laid. What would be the reaction if Bill Clinton, George Bush or Harry Reid comments such as this? Or that younger women must support Hillary for the sole reason that she is a woman? Team Clinton has no idea the danger they are causing of creating such an intense antipathy towards Hillary that many Bernie supporters and younger women will not vote for her in November. I had coffee today with a female college senior who is an intern with the Obama administration—the daughter of a Democrat who has worked for senior Democrats who asked me to look after her while she is in Washington, who told me “I just hate her so much I might even vote for a Republican but I will never vote for her.” And she doesn’t even support Bernie. Would you like a sample of what Bernie and liberals will say about Hillary if they angrily feel she is questioning Bernie’s integrity? The idea of the campaign for the candidate who could become the first woman president initiating a civil war between older women and younger women over her candidacy is political malpractice that leaves me speechless. My phone is ringing off the hook with establishment Democrats who she thinks support her, who are appalled and alarmed by the kind of campaign she is running….more than one of them has said I could quote them by name, that’s how appalled and alarmed they are, and I told them to calm down and tell the Clintons directly what they think, but not go public right now…. ”

    Ever heard about any of that in the media?

    • I dont know about non cognitive, but overnight up here we have 16 kids in hospital, non compos mentis, and 2 in induced comas, bordering on mortis, from taste testing a new brands of drug.
      and the silly season is still months away yet.
      Anybody for the now shoot on sight enforcement policies of the Philippines in relation to drug pushers.
      some say its over 3000 shot in the last 8 months.

      • They are seeking info on suppliers! Hells bloody bells they have 16 ”çriminals’ who they can question. If they don’t give up who sold it to them keep them in gaol! Then get the next lot up the chain. Keep them there until I become dictator.
        Duterte is a pussy!
        We have three alternatives
        1. Get serious about the drug problem…really serious
        2. Let it roll but anyone taking illicit drugs pays full fare for ambulances and hospital treatment – no subsidies. if you can’t pay no treatment
        3. Just let it all rip and see what sort of a society we have in 10 years

      • Fl, you wont believe this, the coppers here know mostly who are the dealers, after the last day out at Byron all the dealers and pushers had a party at one of the resorts here to plan for the next event, But,,,,,
        the jails are full. One dealer was convicted to go to jail and received 2 and a half hours in the lockup.

      • 4. Decriminalise and treat it as a health and socio-economic problem.

        Like countries with successful drug and addiction programs do.

      • Like I said WW, if you want coppers to pull out their guns and start shooting every time they smell a joint, your endeavours in the surfing industry might be a waste of time.

      • Well, Smithy, lets shoot all the pushers dealers and see who is left
        currently we couldnt put up a surfing team for the Olympic, few would pass the drug test

        How about Billabong annual out today, they lost 30 mill last year and still the directors want a pay rise.

      • Is ACTUALLY what is happening now. You can see the wonderful results!

        No, it most certainly is not. And yes, you can see the results of that.

      • The Philippine solution fixes the problem

        If you think the problem is “people using drugs” rather than “what is driving people to drug addiction”, then I suppose that’s true.

      • WW…

        I think you might be well served to bone up on comparative sociological studies wrt societies and mood altering substances. On one hand you have groups which use such in a social manner and is regulated by taboos so it does not become socially destructive or corrosive. Now on the other hand there is a cornucopia of direct observations and evidence which clearly shows taking members of such social groups outside this enviroment, say, move to a metropolitan city for work in 2nd or 3rd world setting and presto…. they easily fall victim to conic drug abuse with what ever is cheap and readily available.

        Disheveled Marsupial…. its not like alcohol was not used as a means to corrupt indigenous peoples time and time again…

  2. Raoul Pal
    “”Should his prediction come true, Pal says, gold prices could double. If central banks want to get active and combat a slowing economy, he says, they will try to stimulate the economy via printing money or more easing, all of which plays “into the hands of gold.”
    This view brings Pal to the asset he favors most over the next year out of bonds, equities, currencies and commodities: the dollar. He told MarketWatch he’d buy U.S. dollars, selling the euro, pound and Aussie dollar;
    This should bring MB Aus real estate collapse prediction into question as well.

  3. *cough*

    “John, one thought worth considering would be for HRC to offer leadership for a better kind of politics by suggesting Democratic candidates agree to not run negative ads against each other during the primaries. A modern version of Reagan’s 11 commandment of Republicans not attacking each other. She would get credit with voters for trying, Bernie would almost certainly agree and O’Malley doesn’t matter at this point and probably won’t…. HRC could then spend money running positive ads about herself, juxtaposed against Republicans, which helps her favorable and trust numbers, draws a nice contrast between her and Republicans, and when she has to go negative when Republicans do, she has a strong foundation of having campaigned for a higher standard of politics which voters want…. Frankly I thought it was dumb for McCaskill and Gutierrez to be attacking Bernie. We are going to need his voters to turn out in November for HRC, he won’t be nominated.I am doing the opposite, repeatedly writing friendly and positive pieces about Bernie as an HRC supporter, and when the time is right I will have money in the bank with him and his people as a liberal to urge them to come out in force to vote for HRC…..which is not a given, and we won’t have much margin for error in a close election…..Brent

  4. According to WikiLeaks, Citigroup executives selected Obama’s Cabinet, in Oct 2008, one month BEFORE the election:

    “The most important revelation in the WikiLeaks dump of John Podesta’s emails has nothing to do with Hillary Clinton. The messages go all the way back to 2008, when Podesta served as co-chair of President-elect Barack Obama’s transition team.

    And a month before the election, the key staffing for that future administration was ALMOST ENTIRELY in place, revealing that some of the most crucial decisions an administration can make occur well before a vote has been cast.

    Michael Froman, who is now U.S. trade representative but at the time was an executive at Citigroup, wrote an email to Podesta on October 6, 2008, with the subject “Lists.” Froman used a Citigroup email address. He attached three documents: a list of women for top administration jobs, a list of non-white candidates, and a sample outline of 31 cabinet-level positions and who would fill them. “The lists will continue to grow,” Froman wrote to Podesta, “but these are the names to date that seem to be coming up as recommended by various sources for senior level jobs.”

    The cabinet list ended up being almost entirely on the money.


        The Supreme Court case which supposedly decided to corporations should be treated as human beings never did so, although the Supreme Court clerk who summarized decisions claimed that the court had made such a decision. Not Long ago Frank H. Easterbrook and Daniel R. Fischel, the former a federal judge as well as a senior lecturer at the University of Chicago School of Law, wrote:
        It is not true, however, that there is a legal duty to enforce every legal right
        …. Managers do not have an ethical duty to obey regulatory laws just because
        those laws exist. They must determine the importance of these laws. The
        penalties Congress names for disobedience are a measure of how much it
        wants firms to sacrifice in order to adhere to the rules: the idea of optimal
        sanctions is based on the supposition that managers not only may, but also
        should violate the rules when it is profi table to do so. [Easterbrook and
        Fischel 1982: 1171 and 1177 n]

        Richard Posner, another influential federal judge, who is also a
        prolific author and a senior lecturer at the same University of Chicago
        School of Law as Fischel, made a similar assertion (Posner 1986).
        When Milton Friedman, the University of Chicago colleague of
        these legal scholars, had proposed that the only responsibility that
        corporations have is the duty to maximize profits without taking any
        social concerns into consideration, within the bounds of the law, his
        position was controversial. A few decades later, federal judges, along with Milton Friedman, proposed that the obligation to earn profits overrides the law. – snip

        Disheveled Marsupial…. beware of those socialists and commies mig…. their so sneaky and underhanded….

      • Hint mig….

        What sets the sociopolitical – socioeconomic playing field – enviroment and how does that effect the actions and policies of its participants e.g. why does it make little difference which political party is in power outside some ID politics, yet foreign and national economic policy is path dependent.

        Disheveled Marsupial…. at this juncture you could vote a lama in as preznit… yet the enviroment would dictate or limit the choices it could make… albeit some are still obsessed about 2nd, 3rd, et al derivatives of the models conditioning…

    • Brown shirts firebombing political opposition?

      Looks like Bernie Sanders is back in the election.

  5. For all you workers and job seekers out there, be afraid, be very afraid. this is right from the TOP
    CSIRO Chief Executive Larry Marshall
    “Many Australian people and industries that’s digital disruption, which is “eating jobs” around the world and threatens to swallow two-fifths of today’s jobs in Australia within 10 or 15 years.”

    ww to assist many with the math, two fifths is 40%, nearly half.
    So in Wolf Speak, the boss says nearly half of Strayans workers will be out of work in 10 to 15 years, most still not having paid out their mortgage. forty percent unemployment, think what that means.

    • “forty percent unemployment, think what that means.”

      PROFIT – !!!!!!

      Disheveled Marsupial…. see my comment above…

      • I’m not on any benefits and with all but one kid not working [12yr] we don’t receive gov subsidy, wife makes too much….

        Disehvled Marsupial… I disagree that it does not apply to me as I – live in society – and as such my freedoms and quality of life are dependent on the whole and not the sum of its parts…

      • Skippy, Sooner or later you are going to need assistance for that PTSD.
        Ensure if the American Legion does not cover you, one of the Strayan Veterans Support Groups is on the case.
        Most RSL’s have advocates or know of advocates.
        Dont ignore it, as the frigging Govt is withdrawing all that support. (nobody gives a damn)
        If you ever are down the coast look me up,

      • WW….

        Your wandering again… might have something to do with your psychological issues… hard staying on topic…

        Was thoroughly examined back a few years WW, by more than one highly esteemed Oz psychiatrist [you know the ones with MDs] and have friends in the profession, sadly your armchair prognosis is wildly inaccurate, had a nice chat with Prof Whiteford about his work at the IMF.

        Disheveled Marsupial…. you should probably stick to the topic at hand and desist with broaching stuff above your pay grade or experience….

      • Skip I have a lot of association with veterans. I can tell you first hand, the human mind is fragile and by modern standards PTSD is everywhere, especially for veterans. Most recently from Afghanistan.
        That you are OK is fine, but your post here just shot you in both feet for the future.

      • I posted the C-corp expectations – profit.

        Then I directed you to this thread above –

        With the hope you could digest it and reconcile its meaning wrt to your comment for which I got from you – “Skippy doesnt apply to you, you are already on benefits, You just need to hope you still qualify for the old age pension.” – which is totally irrelevant to the topic at hand.

        I then had to inform you of your statements inaccuracy and then again you responded off topic with – “Skippy, Sooner or later you are going to need assistance for that PTSD.”

        Repetitively….. I had to show the uninformed and unprofessional inaccuracy in your statements.

        Disheveled Marsupial…. and now you proclaim I’ve shot my self in both feet for all future tense…. for someone that has difficulty in responding directly to the topic at hand I find that an absurd proposition….

  6. Bob Day – poof…. and with it his workplace deregulation agenda….

    Disheveled Marsupial…. hope the dead beat sorts out his debt problems….

    • Skippy normal responses dont gel with those who are intellectually handicapped, but you are not,
      So I dont know
      I’m going to have to find some Gunna foreign language that gets through to you, or just ignore you

      • You have to prove what you say WW….

        Look if you can’t or won’t respond to directly to what I’ve submitted don’t be an ass hat and fob it off on me by misdirection.

        For someone that has a hard time wrapping their head aground AGW I would be careful with the intellectually handicapped stuff… Here I’ll attempt to dumb it down for you, a long time ago the planet had a global volcanic event over a protracted period, lots – heaps of CO2 was emitted, lots of stuffed died or went extinct, tho the planet was able after millions of years to sequester it in sinks, life flourishes again, humans find the sequestered CO2 and use it as a cheap source of energy [kill each other for it], they use the stuff at a rate that returns it to the atmosphere faster than it was originally w/ some new stuff the planet never ever had before, some intelligent humans observe this and ring the alarm bell, some wing nut loon pond sorts say its all cool because Dawg said so…. its only “Natural”…. en fin…

        Disheveled Marsupial…. respond to the link I provided or don’t bother getting of the pot…. everything else is pettifoggery…. as in petty to start with…